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College fund or tech school/tool fund?

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    #1

    College fund or tech school/tool fund?

    So my boy is due in April. I am debating what to setup for him. I hate assuming what he wants to do with his life. I figure a porsche or mercedes benz master tech tool set by the time he is of age plus auto tech school will be like 60k - 70k total (30k for school 30k in tools.) But figure college in 18 years maybe easily 100k for 4 years at a state college (depending on which state we live in.)

    I should just let whatever mature and when he's 18 do whatever he wants with it.
    Ma che cazzo state dicendo? :|
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    #2
    Set up the fund let it grow and if he wants to go to school whatever it that may be.

    If he dose not want to do a schooling path, dont tell him about it, and let it keep growing and give it to him as a wedding present or when hes getting ready to buy his 1st home. If none of those things at least wait till hes 25 to give it too him
    Originally posted by Fusion
    If a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
    The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money. -Alexis de Tocqueville


    The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken

    Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
    William Pitt-

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      #3
      I don't understand what your question is. How much money to save?
      Originally posted by Gruelius
      and i do not know what bugg brakes are.

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        #4
        Yea I see no question here, but I agree with what sleeve said


        Bahama Beige E23 Project
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          #5
          There is no way you can tell what he wants to do I'm 18 and a senior in high school and change my mind hourly. I like the guys idea just to save and if he don't go to school its a wedding present.

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            #6
            look into a 529 plan
            tax exempt saving for secondary education done thru mutual funds
            go to vanguard, fidelity, t rowe price etc and read up
            u can do a monthly contribution that is deducted from your bank for a modest amount
            plus if your boy (congrats!!) doesn't go to school you can use the $ for yourself for additional school, or another child, or just spend it on yourselves
            the rule is that if the 529 funds are used for secondary education, the $ are tax free, including any earnings you've made on the investments
            18yrs is a long way off (it goes quickly however) so take some risk and just keep funding it continually
            “There is nothing government can give you that it hasn’t taken from you in the first place”
            Sir Winston Churchill

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              #7
              Put all the money in an account for him and inform him that it's for his college, then the week he finishes highschool go buy yourself a new boat with the money
              sigpic

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                #8
                Sleeve is correct. Our kid will be here soon enough. My wife works for the college so tuition there will be free. That is something that cannot be passed up.
                sigpic
                Gun control means using both hands
                Sex, Drugs, Rock 'n roll. Pick two.

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